In December, 177,000 Horizon Blue Cross Blue Shield of New Jersey members received a rebate for overcharged premiums in 2018.
The rebates came after Horizon BCBS spent less than the required 80 percent of premium dollars on medical claims filed by their members, meaning expenses fell below projected claim costs for 2018.
For about 148,000 members with an individual policy in 2018, rebate checks averaging $95 were mailed. Premium rebates were much higher for small groups, who received checks averaging $898. Rebates across plans totaled $40.5 million.
More articles on payers:
UnitedHealth shares worth 10 times what they were in 2010
'No guarantee of payment': Healthcare cost-sharing ministries face growing scrutiny
Former Target CFO takes on same role at health insurance startup Bright Health